Steady Income Growth Boosts Homebuyer Affordability in 7 of 8 Cities in 2024: Knight Frank India Report
National, December 27, 2024: Knight Frank India, in its proprietary report, Affordability Index, cited that home affordability has remained favourable for homebuyers in 2024 as interest rates have stayed relatively steady since the end of 2023. According to the Index, Ahmedabad is the most affordable housing market among the top eight cities, with an affordability ratio of 20%, followed by Pune at 23% and Kolkata at 24%. Mumbai was the only city to exceed the affordability threshold, standing marginally higher at 50%, albeit affordability has improved. Knight Frank India’s Affordability Index tracks the EMI (Equated Monthly Instalment) to income ratio for an average household. Home affordability witnessed steady improvement from 2010 to 2021 across the eight leading cities of India, especially during the pandemic when the Reserve Bank of India (RBI) reduced the policy repo rate (REPO) to decadal lows. However, the RBI raised the REPO rate by 250 basis points (bps) over nine months starting May 2022 to tackle high inflation, thus affecting affordability across cities in 2022.
Since February 2023, however REPO rate has remained unchanged, while income has seen healthy growth which has helped offset rising home prices and relatively high interest rates, supporting affordability. Housing demand has grown at an annualised rate of 23% since 2020 and is expected to scale multi-year highs in 2024. The stable interest rate scenario is likely to persist in the near term, as the India’s economy remains on a healthy growth trajectory.
Affordability Index of leading eight cities of India
City | EMI to Income Ratio | ||||||
2010 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | |
Mumbai | 93% | 67% | 61% | 52% | 53% | 51% | 50% |
NCR | 53% | 34% | 38% | 28% | 29% | 27% | 27% |
Bengaluru | 48% | 32% | 28% | 26% | 27% | 26% | 27% |
Pune | 39% | 29% | 26% | 24% | 25% | 24% | 23% |
Chennai | 51% | 30% | 26% | 24% | 27% | 25% | 25% |
Hyderabad | 47% | 34% | 31% | 28% | 30% | 30% | 30% |
Kolkata | 45% | 32% | 30% | 25% | 25% | 24% | 24% |
Ahmedabad | 46% | 25% | 24% | 20% | 22% | 21% | 20% |
Shishir Baijal, Chairman and Managing Director, Knight Frank India said “Affordability plays a crucial role in sustaining homebuyer demand and driving sales, which significantly contribute to the country’s economic growth. While property prices have seen a considerable rise, the steady increase in income levels has helped individuals maintain the financial confidence needed to invest in properties. As incomes grow and the economy strengthens, end-users are more inclined to make long-term financial commitments toward asset creation. With the RBI projecting a healthy 6.6% GDP growth for FY 2025 and a stable interest rate environment, affordability levels are expected to continue supporting homebuyer demand in 2025.”
The COVID-19 pandemic became a catalyst for the residential real estate market, triggering a recalibration of both property prices and lending rates that significantly boosted demand. This residential sales momentum has persisted, supported by factors such as effective inflation control, and strong economic growth and changing preference for home ownership. All markets have shown improved or stable affordability, leading to sustained demand for homes. The pandemic has thus instilled an enduring shift in homebuyers’ sentiments, keeping demand buoyant.
In Mumbai, the affordability index improved by 17 percentage points, moving from 67% in 2019 to 50% in 2024. Affordability has reduced in Bengaluru, albeit marginally, compared to last year with households now expected to pay 27% of towards home purchases up from 26% in 2023. This is largely due to the sharp rise in residential prices over the past year, which has put pressure on affordability. While affordability has come down marginally, it is still well within the affordability threshold of 50%, over which a city’s residential market is deemed unaffordable. The enduring shift in homebuyers’ preferences and sentiments since the pandemic has kept demand resilient and the residential market buoyant.
Home is Where the Hill Is: Why Buyers Are Investing in Holiday Homes in Scenic Destinations
By-Atish Saxena, CEO, Atmosphere – Sarvottam Hill Town
With fast-paced lives in urban life, owning a peaceful, serene retreat amidst nature is what many Indian homebuyers find to be their dream. Rises in demand for the holiday homes or second home in hill stations and wellness destination have seen an uptrend in recent years. Aspirations of living, lifestyle upgrade and investment potential have fueled the requirement. Amongst all these emerging locations, Rishikesh has been the newest hotspot for attracting buyers through the metropolitan hubs like Delhi-NCR.
The Surge in Demand for Holiday Homes
Second homes have changed from being a luxury investment to an everyday lifestyle asset. The COVID-19 pandemic proved to be a catalyst since it compelled homebuyers to reevaluate their preferences. As remote working makes flexible lifestyles possible, the need for a holiday home that can serve as both a vacation retreat and a productive space has become a widely popular choice.
Holiday home demand in India has reportedly increased by 15-20% in 2024 compared to pre-pandemic levels, according to a recent report by Anarock Property Consultants. In fact, locations that can be reached by driving, such as Rishikesh, Nainital, and Kasauli, have seen a continuous flow of buyers. Delhi-NCR investors have, more than ever, found themselves leading the pack for Rishikesh, which encompasses nature, spirituality, and the modern world.
Why Rishikesh is the First Priority Second Home
Rishikesh is a perfect blend of the spiritual rejuvenation and peaceful nature of the Himalayas at the foot of this range along the banks of the Ganges. For quite a few reasons, Rishikesh has been the preferred destination for a second home:
• Proximity to Delhi-NCR: It is hardly a 5-6 hours’ drive from Delhi; hence, it becomes quite an accessible retreat for most urbanites who need serenity and fresh air in the absence of too many miles.
• Spiritual and Wellness Appeal: Wellness tourism and wellness itself – be it yoga, meditation, or Ayurveda – is in. This has made the holistic well-being-seeking buyer turn to Rishikesh. Developers are inducting wellness features like meditation zones, spas, and organic farming in their projects.
• Infrastructure Development: Delhi-Dehradun Expressway has improved connectivity to Rishikesh and further reduced travel time. There is expansion in air travel options from Jolly Grant Airport. This has increased the attraction of Rishikesh as a second home destination.
• Investment Potential: With appreciation in property prices by 12-15% every year, the city promises a great return on investment. Holiday homes in the city are also giving very high rental yields with tourist and wellness seekers arriving here.
Top Developers Tap into the Holiday Home Market
Following these developments, several key property developers have turned attention toward curating holiday homes located at desirable locales, particularly like Rishikesh, so the house developed provides an absolute haven which aligns well with what every contemporary buyer needs-from sheer opulence, environment and comfortable dwellings.
• Luxury Villas and Retreats: Developers are promoting premium villas and cottages offering a panoramic view of the Ganges and hills. Amenities like an infinity pool, wellness center, and a landscape garden are becoming a norm for projects for a resort-like experience.
• Eco-friendly Design: Environmental considerations have led to buyers focusing more on eco-friendly houses and the developers are thus building their projects with solar power and rainwater harvesting and adopting more sustainable construction techniques.
• Rental Opportunities: An increasing number of holiday home buyers treat their property as an investment and source of income. Airbnb and Booking.com allow owners to let out their houses to tourists. It’s one more stream of revenue from a short-term rental yield in Rishikesh, ranging between 6% to 8% annual return.
Buyer Profiles: Who’s Investing in Second Homes?
The profile of the holiday home buyer has become far more diverse:
• Urban Professionals: Young professionals and mid-management people from Delhi-NCR are investing in holiday homes, both for leisure and as a place to work from.
• High Networth Individuals: High Networth Individuals use holiday homes as a symbol of status and as part of luxury lifestyle, with preference toward exclusive locations.
• NRIs: Non-Resident Indians also look for such market as investment opportunities as they look to have an emotional and sentimental attachment with their ‘second home’ in India.
Key Trends in Holiday Home Development
• Workation Homes: Developers are combining workspaces with vacation homes. These can be high-speed internet, study nooks, and co-working lounges for remote professionals.
• Wellness-Centric Communities: Projects now emphasize holistic living through yoga decks, wellness spas, organic gardens, and proximity to nature trails, appealing to health-conscious buyers.
• Smart Homes: Smart home technology, which encompasses everything from automation of lighting to security and energy management systems, is now the norm for high-end holiday homes.
• Community Living: Many second-home projects are now integrating community-focused spaces that foster social interaction for networking and group activities by the homeowners.
Investment Outlook: Why Now is the Right Time
Holiday homes’ demand will grow at an average pace as homebuyers from cities are expected to seek refuge from the grinds of city life. And with expressways and regional airports now being developed, locations such as Rishikesh will experience further increases in property value.
This also means an opportunity for investors-both a personal retreat that can also be monetized as a source of rental income. With the rate of tourism in Rishikesh growing by 10-12% per annum, demand for short-term stay does not lack for anything and guarantees good occupancy for holiday homes well kept.
In summary, the concept of a holiday home has shifted from a dream that many urban buyers have long cherished to a viable and commercially profitable investment for many today. Rishikesh is emerging as a highly coveted destination for second homes given its unparalleled natural beauty, spiritual significance, and better connectivity. Developers are stepping up to meet this demand with modern, wellness-focused, and sustainable living spaces to suit discerning buyers.
As the Indian real estate market continues to grow and change, holiday homes will be the epitome of aspirational living and thus the promise of peace, profitability, and well-being in the hills for a buyer.
Views on Key Trends Witnessed by the Fintech & Life Insurance Industry in 2024 and Outlook for 2025
By-Mr. Dilip Modi, Founder & CEO of Spice Money
“2024 has been a landmark year for the fintech industry, achieving unprecedented milestones in innovation and financial inclusion. India now boasts 26 fintech unicorns, including one decacorn, with registered startups surging from 2,100 in 2021 to 10,200 in 2024 and a combined valuation of $125 billion. Payments and lending categories attracted the maximum amount of funding, accounting for 85% of capital raised, while UPI surpassed 10 billion transactions in August, underscoring its transformative impact.
Spice Money is proud to contribute to this remarkable growth with offerings like biometric banking through AEPS, assisted bill payments, cash collection, and the rollout of UPI for rural India. Our foray into MSME lending and a robust 14-lakh-strong Adhikari network has extended essential financial services to 95% of rural pin codes and 2.39 lakh villages. In 2024, we impacted over 2.5 crore rural customers monthly, fostering trust, financial accessibility, and economic empowerment across Bharat.
Looking ahead to 2025, India is on track to have approximately 150 fintech unicorns with a combined valuation projected to reach $500 billion by 2030. The industry’s future lies in driving scalable and inclusive solutions through collaboration with policymakers and public partners, fostering sustainable and impactful growth for millions across the country.
At Spice Money, we remain committed to advancing Bharat’s financial inclusion through tech-driven solutions, ensuring compliance, and enhancing fraud risk management while prioritizing sustainable and profitable growth. A supportive regulatory framework and robust public-private collaboration are essential to addressing the unique needs of rural India. With rural fintech leading India’s digital revolution, Spice Money aims to build a resilient, inclusive financial ecosystem that uplifts communities and accelerates economic progress.”
By-Mr. Pankaj Gupta, MD and CEO of Pramerica Life Insurance
“The year 2024 has been a defining period for the life insurance industry, marked by a strong emphasis on customer centricity. Regulatory advancements have not only enhanced transparency and trust but have also created avenues for sustainable growth, making the industry more robust and resilient. The revised PPHI (Protection of Policyholders’ Interests) guidelines and new surrender value regulations underscore the sector’s commitment to improving customer experience and fostering policyholder confidence.
Product preferences also saw a notable shift, with Unit-Linked Insurance Plans (ULIPs) emerging as the top choice for policyholders. This was driven by robust equity markets and the growing appeal of wealth creation through insurance. Industry has witnessed rise in New Business Premium from ticket size INR100K & above from 40% in Q1FY24 to 45% in Q1FY25. The growth is largely driven by private insurers whose share of new business from ticket size above 100K has gone up from 55% in Q1FY24 to 60% in Q1FY25 as business mix moves more towards ULIPs, highlighting a rising inclination towards products that blend financial protection with investment benefits. Improved 13-month persistency metrics further reflect the industry’s focus on offering the right products and strengthening collection mechanisms.
At Pramerica Life Insurance, 2024 has been a year of meaningful strides, marked by our commitment to sustainable growth and excellence in serving our customers and stakeholders. We have made significant strides in expanding our reach, particularly in underserved segments, supported by our strong MFI business. This aligns with our commitment to championing the regulator’s vision of ‘Insurance for All by 2047’. Looking ahead, we see immense opportunities in addressing India’s underpenetrated pensions market, currently at just 3% of GDP. With the elderly population projected to grow 2.4 times by 2050, the demand for retirement-focused solutions is expected to rise steadily. Life insurers have a critical role in bridging this gap with innovative and tailored products. As we continue to empower customers with transparent, accessible and innovative solutions, we remain steadfast in our focus on ULIPs as a key component of our product mix. Meanwhile , Bima Trinity is set to revolutionise the sector for customers and distributors alike. By leveraging these opportunities, Pramerica Life Insurance is well-positioned to enter into a new era of growth, supporting India’s journey towards comprehensive financial protection by 2047.”
Expert Quotes on Real Estate Sector: 2024 Trends and 2025 Forecast
By-Mr. Pradeep Aggarwal, Founder & Chairman, Signature Global (India) Ltd.
“The Indian real estate sector surged in 2024, supported by rising urbanization, shifting lifestyles, and increasing demand across affordable, mid-income, and luxury segments. Residential demand has been particularly strong, while the luxury market saw a boost from high-net-worth individuals and NRIs keen on high-end amenities in cities like Gurugram, Mumbai, and Bengaluru. Sustainability is a driving trend, with eco-friendly, energy-efficient properties gaining popularity. Valued at approximately $493 billion, the sector contributes 7.3% to India’s GDP and is the second-largest job creator after agriculture.
Looking ahead, India’s real estate market is expected to play a transformative role in the country’s ‘Viksit Bharat’ (Developed India) vision, with projections estimating the sector could reach $1.3 trillion by 2034. By 2030, housing demand is anticipated to grow to around 70 million units, driven by urban infrastructure projects, favorable policies, and a resilient economy. As infrastructure projects accelerate and the economy expands, real estate’s contribution to GDP is poised to rise, solidifying its position as a key pillar in India’s journey toward sustained economic growth and urban modernization.”
By-Mr. Aman Sarin, Director & Chief Executive Officer, Anant Raj Limited
The year 2024 witnessed strong momentum in the Housing sector, with the luxury and ultra-luxury segments taking center stage. Cities like MMR and Gurugram-NCR saw a surge in demand for high-end properties priced above ₹5 crore, driven by an increasing number of prospective buyers seeking premium living spaces.
Looking ahead to 2025, we expect this strong demand to continue and growth across all housing segments, however, with limited supply. Key factors supporting this positive outlook include India’s robust economic growth, stable interest rate, improved consumer confidence, and the dominance of reputable developers capturing significant market share.
Additionally, the RBI’s recent reduction in the Cash Reserve Ratio (CRR) is likely to translate into lower lending rates as banks pass on the benefits to borrowers. With inflation under control and a resilient economy, there is also a strong possibility of a policy rate cut in upcoming MPC meetings. Lower interest rates would enhance affordability and further boost buyer sentiment, driving continued momentum in the real estate sector.
By-Akash Khurana, President and CEO, Krisumi Corporation
The trend in 2024 –
The Delhi NCR real estate market has seen an unprecedented surge in 2024, with over 75,000 residential units sold, marking a 15% year-on-year growth, as per a recent Knight Frank report. This growth was fuelled by infrastructure advancements like the completion of the Dwarka Expressway and policy reforms supporting affordable housing. The market’s evolution highlights a shift toward integrated townships and sustainable developments. Dwarka Expressway accounted for a substantial chunk of the sales in Gurugram region which is supported by enhanced connectivity and modern amenities. Like in 2023, even in 2024 buyers continued to prioritize larger homes with green spaces and premium facilities. Inline with the growing preference about 35% of new projects, as per CBRE, are being developed with integrated IoT-enabled smart home solutions signalling a shift towards tech-driven living. The demand for luxury housing also continued to rise sharply during the year. As per a PropTiger report, India’s luxury housing market experienced a remarkable 37.8% surge in sales in 2024. Homes priced at ₹1 crore and above made up 20% of total sales, while homes priced over ₹4 crore witnessed an unprecedented growth of 82%, reflecting a rising demand for premium living, the report stated. The trend may continue in the coming year.
Outlook for 2025 –
In 2024, as per an Anarock Capital report, real estate developers raised ₹1281 crore raised via qualified institutional placements and plan to launch 253 million square feet of housing over the next five years, thus showcasing immense confidence in the sector’s resilience. Accordingly the strong momentum is likely to persist in 2025 as well. Delhi NCR is expected to add 100,000 new units in 2025, with luxury and ultra-luxury segments projected to grow by 20% as per a Cushman & Wakefield report. The completion of key infrastructure projects like the Delhi-Mumbai Expressway and the push for sustainable development will further bolster the market. Luxury housing will likely continue its upward swing, buoyed by rising HNI numbers, infrastructure advancements, and evolving buyer preferences. There’s also a rising demand for mid-segment luxury housing priced above ₹ 2 crore, catering to aspirational millennials. Projects focusing on wellness amenities, like air purification systems and meditation spaces, would continue to gain further traction. At Krisumi Corporation, we’re committed to pioneering these trends, delivering projects that redefine urban living through innovation, quality, and sustainability.
Indian Real Estate Climbs to New Heights in 2024, Looking Ahead to Major Opportunities in 2025
In 2024, the Indian real estate sector recorded a growth trajectory, driven by a surge in demand for luxury housing, green projects, and rising interest across cities. Building on this momentum, the sector is anticipated to achieve greater growth in 2025. According to a recent report by Knight Frank, titled “India Real Estate: Residential and Office (January – June 2024), the first half of 2024 observed homes priced at Rs 1 crore (₹10 million) and above representing 41% of the total sales, infusing new energy into the market.
Besides, the sector witnessed exceptional growth in Tier 2 and Tier 3 cities, largely due to infrastructure development transforming these areas into investment hotspots. Knight Frank India reported a 62% rise in residential property prices and a 12% increase in demand for commercial properties in these regions during Q3 2024. Further, green and sustainable projects also stole the spotlight in 2024, with developers increasingly prioritizing eco-friendly construction and energy-efficient designs.
Amidst this growth, developers and experts are optimistic about 2025.
Yukti Nagpal, Director, Gulshan Group, said, “The year 2024 has been a defining chapter for the real estate sector, marked by unparalleled growth and unwavering resilience. Leading this evolution, the Delhi-NCR region emerged as the epicenter of demand for premium residential spaces, a trend shaped by transformative infrastructure milestones like the Noida International Airport and the rising aspirations of modern, discerning households.
At Gulshan Group, 2024 also marked the delivery of Dynasty, a true epitome of luxury and refined living. Dynasty stands as a testament to our unwavering commitment to delivering spaces that not only meet but exceed the expectations of modern homebuyers—spaces that blend opulent design, timeless aesthetics, and impeccable craftsmanship.
Looking ahead to 2025, we anticipate an even greater shift towards convenience-driven luxury, particularly in the hospitality sector. Today’s discerning audience seeks holistic experiences that combine comfort and intuitive services. Convenience is the new luxury—a trend that underscores a desire for effortless living amidst the hustle and bustle of modern life.
This evolving aspiration for curated luxury, sustainable innovation, and community-centric urban oases inspires us to continually raise the bar. At Gulshan Group, we remain committed to redefining premium living and hospitality by delivering exceptional spaces that resonate with the lifestyles of tomorrow.
Our vision for the New Year is clear: to set unprecedented benchmarks in both realty and hospitality, crafting experiences that are not just luxurious but also convenient, thoughtful, and enduring. We are here to transform aspirations into realities.”
Mohit Goel, Managing Director, Omaxe Group, said “2024 has been a great year for the housing, commercial, and retail segment witnessing an exceptional growth trajectory. Infrastructure upgrades, the renewed focus on home ownership, higher disposable income, and diversifying investment portfolios have led the sector’s growth throughout the year. In particular, Delhi-NCR witnessed a significant surge in luxury housing growth. Besides, the leasing activity for office space and retail recorded new growth numbers in the region. While Gurugram and Noida notably contributed to this growth graph of NCR’s realty market, Faridabad emerged equally promising. Long dominated by its neighboring towns, Faridabad has successfully positioned itself as one of the potential regions to watch out for in the years ahead. Supported by positive economic conditions and increasing demand in peripheral cities, Faridabad is likely to witness expanded investment opportunities. We believe that the city will provide valuable opportunities for both developers and investors enabling it to shine brighter on the NCR’s realty map.”
Sandeep Chhillar, Founder and Chairman, Landmark Group, said “The demand for housing reached a new peak across cities making 2024 an exceptional year for the real estate sector. As per the industry trend analysis, Delhi-NCR’s housing sales during Jan-Sep 2024 witnessed new growth numbers compared to the city’s last year’s sale numbers. With a significant shift noticed in buyer behavior seeking upgraded lifestyle and upscale living spaces, the luxury homes segment witnessed a significant and constant jump in demand where Delhi-NCR emerged as one of the top performing markets amongst key cities. Given the upward growth trajectory of the luxury housing segment, we anticipate a strong year ahead driven by positive market sentiments and favorable economic conditions. Gurugram and its emerging corridors are expected to dominate the new supply of luxury housing and its demand in the year ahead. We are looking forward to rapidly increasing development and sales growth as Gurugram emerges to become one of the leading realty markets.
Piyush Kansal, Executive Director of Royale Estate Group, said “In 2024, tier 2 cities have emerged as the new frontier for residential real estate, driven by a mix of improved infrastructure, enhanced connectivity, and the evolving needs of homebuyers seeking both value and quality. Cities like Chandigarh,Mohali,Zirakpur,Panchkula have established themselves as leading destinations for those looking to have a balanced lifestyle and luxury living. With its world-class urban planning, green spaces, and a blend of modern amenities, Chandigarh’s real estate market has become increasingly attractive to both homebuyers and investors. As we look towards 2025, we expect Chandigarh’s residential market to continue its upward trajectory, offering opportunities for luxury and sustainable living in a well-connected, progressive city.
Ravinder Choudhary, Vice President of Vegas Mall, said “Vegas Mall: 2024 brought a huge transformation for retail real estate, with malls evolving into vibrant community hubs rather than just shopping destinations. Across the NCR, malls have embraced a mixed-use approach, blending retail, entertainment, dining, and wellness under one roof to cater to diverse consumer preferences. The retail spaces revitalized their landscape, drawing significant footfall and interest from global and domestic brands. Amid rising disposable incomes and demand for experiential spaces, we anticipate this evolution to continue in 2025, with more innovative, multi-functional mall projects reshaping the retail experience.
Ashwani Kumar, Pyramid Infratech, said, “The real estate sector in 2024 has grown exceptionally well with developing areas emerging as new markets. The luxury segment driven by evolving consumer preferences, and rising disposable income played a significant role in this growth graph across cities. In NCR, Gurugram has remained the preferred luxury destination where new sectors have become increasingly attractive to buyers and investors. Gurugram’s luxury home market witnessed an outstanding year paving the way for new markets to emerge growth frontiers in the year ahead. Improved infrastructure, like the development of new expressways, metro lines, and business hubs, has enhanced connectivity, making previously underserved areas more appealing to luxury buyers. These factors will continue to benefit the city’s real estate market.”
Ambika Saxena, Director, Corporate Communications, Bayside Corporation, said “Looking ahead to 2025, the luxury real estate market in India is set to witness continued growth, driven by the increasing demand from high-net-worth individuals (HNIs) and non-resident Indians (NRIs). This demand reflects a shift towards premiumisation, with buyers increasingly seeking larger, more exclusive homes with state-of-the-art amenities and privacy. Developers will need to adapt to these evolving preferences, focusing on delivering not just luxury, but a living experience that meets the high expectations of today’s affluent market.”
With the foundation laid in 2024, the Indian real estate market is well-positioned to achieve remarkable growth in 2025. Developers are ready to launch projects that cater to evolving customer preferences, emphasizing luxury, sustainability, and technological innovation. This optimism ensures that the sector will continue its upward trajectory, making 2025 a pivotal year for Indian real estate.
Navigating the Resilient Transformation of Real Estate: Trends to Watch in 2024 and 2025
By-Mr. Gaurav K Singh, Founder & Managing Director, Womeki Group
The real estate industry in 2024 has experienced a period of cautious optimism as it navigates through a landscape shaped by global economic trends, technological advancements, and evolving consumer preferences. This year, the sector has shown resilience despite challenges, reflecting a balancing act between addressing economic uncertainties and leveraging opportunities presented by innovation and changing market dynamics. As we look ahead to 2025, the trajectory of the real estate industry appears poised for further transformation, driven by key trends and emerging shifts.
In 2024, the industry has grappled with the lingering effects of post-pandemic economic adjustments, fluctuating interest rates, and inflationary pressures. These factors have contributed to a more measured pace of growth, with developers and investors taking a cautious approach to expansion. The residential real estate market, in particular, has been shaped by affordability concerns, as rising construction costs and tight housing supply continue to impact pricing. First-time homebuyers have faced significant barriers, prompting governments in various regions to introduce policies aimed at improving accessibility and affordability. Meanwhile, the rental market has seen sustained demand, fueled by younger generations delaying homeownership and opting for flexible living arrangements. Urban areas have witnessed an uptick in demand for rental properties, especially in regions experiencing a revival of office work and hybrid arrangements.
On the commercial front, 2024 has been a year of adaptation and redefinition. The office sector, while still recovering from the pandemic-induced remote work shift, has seen renewed interest in flexible and collaborative workspaces. Employers have sought to create environments that foster innovation and employee engagement, balancing in-office and remote work preferences. The retail real estate segment has embraced omnichannel strategies, integrating brick-and-mortar spaces with e-commerce platforms to enhance customer experiences. Industrial and logistics properties have continued to thrive, driven by the e-commerce boom and the need for efficient supply chain networks. Warehousing and distribution centers remain in high demand, particularly in proximity to major urban hubs.
Sustainability and technology have emerged as pivotal drivers in the real estate industry in 2024. Developers and investors have increasingly prioritized green building practices, recognizing the importance of energy efficiency and environmental responsibility. The integration of smart technologies, such as IoT devices and AI-powered systems, has enhanced property management,
improved energy consumption, and elevated tenant experiences. PropTech innovations have played a transformative role, enabling virtual property tours, streamlined transactions, and data-driven decision-making. These advancements have not only enhanced operational efficiency but also catered to the preferences of tech-savvy consumers and investors.
As the industry transitions into 2025, several trends are expected to shape its landscape. One of the most significant influences will be the continued focus on sustainability. Governments and regulatory bodies are likely to implement stricter environmental standards, pushing developers to adopt sustainable practices and innovate in areas such as renewable energy integration and carbon-neutral construction. The rise of green financing options will further incentivize eco-friendly developments, aligning with global efforts to combat climate change. This shift toward sustainability is anticipated to redefine property valuation metrics, with energy-efficient and environmentally conscious buildings commanding higher premiums.
Technology will remain a driving force in 2025, with advancements in AI, blockchain, and virtual reality reshaping how properties are bought, sold, and managed. Blockchain technology is expected to gain traction in streamlining real estate transactions, enhancing transparency, and reducing fraud. Virtual reality and augmented reality tools will continue to revolutionize property marketing, providing immersive experiences for potential buyers and tenants. Smart cities and connected communities will gain prominence, integrating real estate developments with cutting-edge infrastructure and services to enhance urban living.
Demographic shifts will also play a crucial role in shaping the industry in 2025. Aging populations in developed markets will drive demand for senior housing and accessible living solutions, while younger generations will influence trends in co-living spaces and urban revitalization projects. The ongoing urbanization trend in emerging markets is expected to fuel demand for affordable housing and mixed-use developments, creating opportunities for investment and growth. However, geopolitical uncertainties and economic volatility could pose challenges, requiring stakeholders to adopt agile strategies and risk mitigation measures.
As the sector moves into 2025, it is poised to embrace transformative changes driven by sustainability, technology, and evolving demographics. Stakeholders who prioritize innovation, adaptability, and a long-term perspective will be well-positioned to navigate the complexities of this dynamic industry and capitalize on the opportunities that lie ahead.
Parimatch Presents Crypto Royale: Your Gateway to Transforming Crypto into Rewards
26th December 2024 New Delhi, Delhi, India To make the anticipation of the winter holidays even more joyous, Parimatch, the #1 global gaming platform, is thrilled to announce the launch of The Crypto Royale Tournament.
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One Tournament, Two Ways To Win Big!
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Wrapping Up
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Shaping Futures with The Learning Space: A Journey of Educational Revolution
26th December 2024 Noida, Uttar Pradesh, India The Learning Space, a premium school in Noida-one that promises a future where young minds flourish without the influence of technology. Founded in 2021, the kindergarten school is designed to offer a truly unique learning experience. The team here believes education is not just about the books or the gadgets but about the child-nurtured in an environment that thrives on personal connection, creativity, and exploration.
The Learning Space is thoughtfully designed to provide a nurturing and stimulating environment for young learners. With spacious and vibrant classrooms equipped with modern teaching aids, the school ensures an engaging learning experience. Its outdoor spaces, including a well-maintained musical garden, traffic training park and exclusive outdoor play area, offer ample opportunities for physical activity and exploration. The school also boasts specialized learning areas such as an art space, innovation lab, music space, and a cozy reading space, fostering creativity and curiosity.
The journey of The Learning Space began with a simple, yet powerful vision: to redefine early childhood education by creating a nurturing, stimulating environment that fosters holistic growth. It wasn’t just about providing academic education; it was about crafting a space where children could grow emotionally, socially, and intellectually-without the distractions of modern-day technology.
The brainchild of Vikram Kesarwani, the Founder-Director of The Learning Space, this vision came to life through years of dedication, hard work, and a deep passion for education. With over two decades of experience in educational administration and finance, Vikram understood the need for a space that could offer more than traditional education. His background as a Chartered Accountant and Information Systems Auditor gave him the tools to build a sustainable, innovative institution that could stand apart.
In this journey there were numerous challenges-securing the right space, building a team that shared his values, and developing a curriculum that was both innovative and effective. But Vikram’s unwavering dedication to his mission pushed him forward, and in July 2024, The Learning Space was born.
Mission and Vision: The Core Values of TLS
At its core, The Learning Space needed to exist as a safe haven for young minds to thrive in a place that fosters inquisitiveness, inventiveness, and autonomy. Simple but profound, the mission is to help young minds thrive by providing access to emotional intelligence, creativity and real-world skills, rather than more passive consumption of technology.
The vision is equally powerful-to develop children who are not just academically proficient but emotionally balanced, confident, and eager to explore the world.
Behind the Idea: The Founder-Director’s Perspective
For Vikram, the idea of The Learning Space was born out of a belief that today’s early education systems, overly reliant on technology, were missing something essential. His background in finance and technology allowed him to recognize the importance of balance: while technology can aid education, it should not replace meaningful, face-to-face interactions and hands-on learning experiences.
Non-Tech Initiatives: Redefining Modern Education
One of the most distinctive features of The Learning Space is its non-tech approach to early childhood education. In a world where screens are often a central part of learning, The Learning Space focuses on real-world experiences, personal connections, and hands-on activities that stimulate the senses and the imagination.
At the heart of this philosophy is experiential learning, which allows children to engage with the world around them through outdoor activities, creative play, and interactive tasks. Rather than relying on digital devices, children at The Learning Space learn through exploration, guided by dedicated educators who encourage questions, curiosity, and problem-solving.
Innovative programs like the LEGO Wall for creative construction, the Musical Garden for sensory exploration, and the Creativity Centre allow children to engage with the world in a way that stimulates both their minds and their emotions. This non-tech approach doesn’t just support learning-it nurtures the holistic development of every child.
The TLS Difference: What Sets it Apart
What truly sets The Learning Space apart is its unwavering commitment to providing an exceptional early learning experience. The school boasts a low teacher-to-student ratio of 1:8, ensuring that every child receives personalized attention and guidance. This ratio allows educators to tailor their approach to the unique needs and interests of each student, creating a customized learning experience.
The Future of Learning at TLS
The school’s commitment to creating independent, creative, and confident learners will continue to drive its evolution, ensuring that every child who steps through its doors is given the best possible foundation for success.
It’s not just a preschool – it’s a vision for the future of early childhood education.
The Red Bow Collection: Sparkle in Every Gift This Festive and Wedding Season
26th December 2024 New Delhi, Delhi, India This holiday season, Amaltas is redefining the art of gifting with the launch of the Red Bow Collection – a perfect gift that is simple, classic and wrapped with love. Perfectly timed for Christmas and the wedding season, the collection makes diamond gifting effortless while blending timeless beauty with thoughtful simplicity.
Whether it’s the warmth of holiday gatherings or the grandeur of wedding festivities, finding the perfect gift is now easier than ever. With the Red Bow Collection, Amaltas offers an exquisite selection of versatile and meaningful lab diamond jewelry pieces. Designed to celebrate connections and create cherished memories, the collection includes delicate earrings, dainty pendants, and chic rings—ensuring there’s something for everyone on your list.
Launching on 23rd December, this new range brings the luxury of lab-grown diamonds within reach, with prices starting at just ₹5,000. “At Amaltas, we believe that every celebration deserves a sparkle,” said the brand’s spokesperson. “With the Red Bow Collection, we’re making it easy to gift diamonds that resonate with love, beauty, and sustainability this Christmas and wedding season.”
Sustainability Meets Elegance Amaltas remains committed to crafting jewelry that’s as ethical as it is exquisite, using only lab-grown diamonds. This ensures that every piece from the Red Bow Collection is not just a symbol of timeless beauty but also a testament to sustainable luxury.
To celebrate the launch, Amaltas rolled out a spectacular guerilla marketing campaign that turned heads and stole hearts across Delhi NCR. A giant ring box adorned with a vibrant red bow was mounted on a sleek red Audi convertible, creating a striking representation of the collection’s theme- gifts that are simple, classic and wrapped with love.
On 21st December the marketing activation was rolled out at iconic locales like Connaught Place, Khan Market, GK’s M Block Market, Select Citywalk, CyberHub, and Galleria Market. This bold display captivated passersby, many of whom captured and shared the moment on social media, amplifying the campaign’s reach and reinforcing Amaltas’ ethos of modern sophistication.
“The giant ring box on the red Audi was a direct nod to the collection’s theme, a perfect gift wrapped with love and excitement,” said Yasha Singh, spokesperson of Amaltas. “The campaign not only captured imaginations but also significantly boosted brand awareness, marking the launch as a citywide celebration.”
Discover the Red Bow Collection Now available at www.amaltasjewels.com, the Red Bow Collection offers a curated selection of elegant and timeless diamond jewelry, making every moment truly unforgettable. This season, let Amaltas add a touch of sparkle to your celebrations with gifts that shimmer with meaning and purpose.
7th Edition of ‘MedEngage Scholarship Programme’ Launched by Metropolis Foundation
26th December 2024 Mumbai, Maharashtra, India Metropolis Foundation, the Corporate Social Responsibility (CSR) arm of Ameera Shah-led Metropolis Healthcare Limited, India’s second-largest and most respected pathology laboratory chain, is proud to announce the launch of the 7th edition of its annual ‘MedEngage Scholarship Programme 2024-25.’ This year, the programme will support 350 medical students with scholarships, including 30 students who will receive research grants. Applications are now open for undergraduate and postgraduate medical students, including those pursuing MBBS in any year, as well as MD/MS/DNB training and the internship year.
Envisioned by Metropolis’ Chairman Emeritus Dr. Sushil Shah, MedEngage Programme is a comprehensive medical outreach initiative aimed at nurturing young medical talent and shaping the future of healthcare in India. As part of this flagship CSR initiative, the ‘MedEngage Scholarship Programme’ has become one of the most impactful CSR efforts, benefiting 750 plus students since its inception in 2018. In addition to financial support, MedEngage provides students with access to Metropolis’ world-class laboratory facilities, promoting academic research excellence. The programme also offers opportunities for observerships, laboratory tours, internships, and hosts MedTalk webinars featuring leading healthcare industry experts, providing valuable insights and expertise tailored for aspiring medical professionals.
Commenting on the launch, Mr. Surendran Chemmenkotil, Chief Executive Officer, Metropolis Healthcare Limited said, “The MedEngage Scholarship Programme is designed to address the financial challenges faced by many talented medical students, enabling them to pursue their aspirations without hindrance. By providing scholarships and research grants, we aim to support students who are poised to make meaningful contributions to the healthcare sector. This initiative goes beyond financial assistance; it fosters innovation and equips future healthcare professionals with the resources they need to drive positive change in the field, ultimately improving patient care and healthcare outcomes.”
Dr. Duru Shah, Chairperson, Metropolis Foundation, said, “Focusing on students from underprivileged backgrounds in aspirational districts across India has been a significant step forward, and we are deeply proud to have supported 60 such students through last year’s program. By reaching out to those areas with the greatest need, we’re not just providing funding for education; we’re offering hope and inspiration to young minds who will go on to shape the future of healthcare in India. Our goal is to ensure that every deserving student has the opportunity to succeed and contribute to healthcare through this initiative.”
Dr. Kirti Chadha, Chief Scientific and Innovation Officer & Group Head – CSR, Metropolis Healthcare Limited, said, “As a socially responsible organization, Metropolis is dedicated to fostering young medical talent across India through the expanded MedEngage program. This initiative provides students with opportunities to engage in academic research, innovation, and hands-on experience. Our team of medical experts will mentor students, guiding them in publishing research papers and cultivating their passion for innovation. Together, we are shaping the future of healthcare through collaboration and knowledge-sharing.”
Since its inception, MedEngage has reached over 500 medical institutions, with more than 10,000 students registering for scholarships and other benefits. For more information on the MedEngage Scholarship Programme or to apply, students can visit www.med-engage.com. The application portal is open until 15th January 2025. For inquiries, students can contact the MedEngage Support Team at support@med-engage.com or reach out
Deloitte serves as the process partner for the MedEngage Scholarship Programme, and the applications will be evaluated by an eminent panel of jury members from the healthcare fraternity and external bodies. The scholarship beneficiaries will be announced in February 2025, followed by a felicitation ceremony in March 2025.
Eligibility Criteria:
- Medical students pursuing MBBS, MD/MS/DNB courses at any MCI-recognized college/university are eligible to apply.
- Applicants must be from government or private medical colleges.
- Priority is given to students from underprivileged families, particularly those from aspirational districts.
- Domicile in one of the 112 aspirational districts is required for students from those regions.
- Applicants must register through the MedEngage website and provide all required documentation for consideration.
MedEngage by Metropolis is dedicated to celebrating and honouring the young talents who represent the future leaders of the healthcare sector. The MedEngage Programme has received prestigious recognition, including the NATHealth Impact Award by the Healthcare Federation of India, as well as accolades from ASSOCHAM and leading media organizations.